Biography Robert Vesco

1 biography

1.1 ios scandal
1.2 nixon scandal
1.3 vesco law
1.4 nixon scandal, pt. ii

biography

vesco son of detroit autoworker. born in detroit, michigan, grew , attended, , quit, cass technical high school. quit engineering school during twenties work investment company. after brief period made independent $800 stake matching buyers , sellers in aluminum market, until acquired portion of profits of floundering aluminum plant. 1965, borrow enough money acquire international controls corporation (icc). through aggressively hostile expansions , debt-financed takeovers of other businesses increased icc quickly. 1968 company owned airline , several manufacturing plants, , vesco had shares totaling us$50 million.

ios scandal

during 1970, vesco began successful takeover bid investors overseas service, ltd., mutual fund investment company holdings of $1.5 billion managed financier bernard cornfeld, had gotten trouble sec. when company began experience financial difficulty, no white knight willing involved. vesco saw chance , began protracted battle assume control of company, opposed cornfeld , others. cornfeld jailed in switzerland , vesco accused of looting company of hundreds of millions of dollars. many prominent figures in global business, finance, , royalty associated mess, receiving money 1 party or other endorsement. among accusations against vesco parked funds belonging ios investors in series of dummy corporations, 1 of had amsterdam address later associated prince bernhard of netherlands, , broke swiss bank vault obtain shares. these allegations unproven, vesco fled country , spent next fifteen years relocating between countries lacked extradition treaties united states.

during february 1973, criminal charges against him imminent, vesco used corporate jet flee costa rica along $200 million worth of ios s investments, according sec allegations. vesco continue wage legal battle costa rica , bahamas try maintain control of 26 percent of icc stock, but, 5 outstanding indictments securities fraud against him, not return united states. not until 1981 icc had become free of vesco s control, after paying $12 million him , family.

nixon scandal

among charges emerged during 1970s, sec accused vesco of embezzling $220 million 4 different ios funds. during 1973, vesco fled costa rica. shortly before departure, hoping end sec investigation activities, vesco routed substantial contributions richard nixon through nixon s nephew donald a. nixon.

vesco investigated secret $200,000 contribution made 1972 campaign re-elect nixon. counsel international controls corporation, new jersey lawyer harry l. sears delivered contribution maurice stans, finance chairman committee re-elect president. vesco had wanted attorney general john n. mitchell intercede on behalf sec chairman william j. casey. while vesco fled country, stans, mitchell, , sears indicted obstruction of justice, though charges against 3 dismissed.

vesco law

in costa rica, vesco donated $2.1 million sociedad agricola industrial san cristobal, s.a., company initiated president josé figueres. figueres passed law guarantee vesco not extradited. figueres constitutional term ended during 1974. vesco remained in costa rica until 1978, when president rodrigo carazo (1978–1982) repealed popularly referred vesco law.

during 1978 vesco relocated first nassau , antigua.

while in nassau in seventies, vesco’s business ties lynden pindling , carlos lehder subject of cia investigations. believed bill fairclough (ostensibly working coopers & lybrand) investigated these ties. despite vesco’s fall-out pindling, still maintained golden gated mansion staffed armed guards situated north east of nassau close paradise island 1 of yachts moored noted in autobiographical journal beyond enkription bill fairclough. on vesco’s orders, fairclough drugged , kidnapped whilst @ pink pussycat club on delancy street in nassau. awoke on vesco’s yacht managed force yacht shore , escaped after having stolen revolver 1 of vesco s guards.
while in antigua vesco tried unsuccessfully buy sister island barbuda , establish sovereign state. costa rican government refused attempt return during 1978, while rodrigo carazo president. during 1982 vesco tried again return costa rica, president luis a. monge denied entry.

he lived in nicaragua while, while sandinista government in power. each of these countries accepted him, hoping great wealth finance local development projects. however, worked badly involved, although vesco reputed have stolen more $200 million, , appeared several times on forbes list of wealthiest people in world.

nixon scandal, pt. ii

during 1982 relocated cuba, country provide him treatment painful urinary tract infections, , not extradite him u.s. cuban authorities accepted him on condition not involved in financial deals. married lidia alfonso llauger.

vesco indicted during 1989 on drug smuggling charges.

during 1990s, vesco became involved once again donald nixon after nixon went cuba seeking partner government in conducting clinical trials on substance claimed boost immunity, called trixolan or tx. vesco introduced nixon fidel castro , brother, raúl castro, , cuban government agreed provide laboratory facilities , doctors conduct trials. results studies claimed positive. in cuba, vesco joined forces rogue former cia operative frank terpil, , offered network of contacts cuban government.

on or may 31, 1995, vesco attempted defraud nixon , raúl castro, , cuban authorities seized control of project , arrested vesco , wife, , terpil.

at time of vesco s arrest cuban foreign ministry said had been taken custody under suspicion of being provocateur , agent of foreign special services, or intelligence agencies. however, formally charged fraud , illicit economic activity , acts prejudicial economic plans , contracts of state. during 1996 cuban government sentenced vesco thirteen years in prison on charges resulting scandal. scheduled release during 2009, when have been 74 years old. vesco s wife lidia convicted on lesser charges , released during 2005.